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A top regional construction lawyer has warned contractors against the dangers of entry into the KSA or Qatar real estate markets, without adequate planning and preparation.
Talking to Construction Week, Pinsent Masons partner Sachin Kerur said that neither market should be viewed as an opportunity for short-term financial turnaround.
"There are lots of excellent projects going on, particularly in Saudi Arabia," Kerur said. "But you have got to be properly geared up for the market.
"You can't expect to go in and make rapid returns on a short business cycle."
Both the KSA and Qatar real estate sectors have been touted as alternatives for firms based in countries that have seen a slide in demand for real estate and a reduction in available construction contracts.
On the subject of KSA, Kerur advised: "That is one market where choosing a solid partner is essential."
Bahrain-based Arcapita investment director and Victory Heights general manager Yasser Abdullah said: "We see much potential for growth in Saudi Arabia, where the demographic creates a good demand for real estate. It's a natural market that will be there for the long term, and Qatar is coming up as well."
Abdullah also singled out Abu Dhabi, which he said "has already put forward its own initiatives, and we see it as a good potential area for investment."
